AOL continues to prep for its impending spinoff from Time Warner. Today’s step: Announcing the board of directors for the company-to-be. Boldface names of note include William Hambrecht, former head of tech investment bank Hambrecht & Quist; Michael Powell, former chairman of the Federal Communications Commission; and Jim Wiatt, former head of William Morris. Notably absent: Anyone from Google, Tim Armstrong’s favorite recruiting ground, and any whippersnappers, unless you count 46-year-old Powell.

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Vevo, the music industry’s version of Hulu, now has its own version of Providence Equity, the outside investor that took a flyer on the Web TV and movie joint venture: Abu Dhabi Media Company has purchased a stake in the company from owners Universal Music and Sony. No financials released, though I’m told the deal values the JV at $300 million.

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Time Inc. has spent the past few months convincing other publishers to join a new joint venture aimed at a market that doesn’t really exist yet–magazine-like publications to be delivered via e-readers like Amazon’s Kindle and Apple’s rumored tablet. Publishers like the idea. What will Apple and Amazon say?

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Forget the blowup between Warner Music Group and Google over YouTube money: The big labels need to be on the world’s biggest video site, and YouTube could use the music videos. Which is why the solution may look very much like the arrangement the labels made with MySpace last year. Call it YouTube Music.

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